The Top Business Degrees in Demand and Their Potential Payoff

After years in the workforce paying your dues, you’ve been eyeing a promotion at your company. You know you have the work and life experience to bring to the table, but your resume never sparks an interview because you never earned your degree. You’ve thought about returning to school, but how do you know your tuition and time will pay off in the end?

Let’s get down to business — literally. Whether you're looking for the next step in your career path or hoping to lay the groundwork for a new direction, a college degree can provide the education you may need and make a significant difference in your earning potential.* Enrolling in one of the top in-demand on-campus or online bachelor's in business administration degrees can give you the knowledge and skills needed to succeed in the ever-changing business world.

Are Business Majors in High Demand?

Business degrees are popular pursuits at the bachelor's level, having claimed the highest number of degree conferrals in the 2021-2022 school year, according to a 2024 report by the National Center for Education Statistics (NCES).

You can become a more competitive candidate for jobs with the help of a bachelor's degree, especially if there is a sustained demand in the field you select for your study. Bachelor's degrees are the typical requirement for entry-level positions within business and finance, according to the U.S. Bureau of Labor Statistics (BLS). Employment in these fields are projected to grow faster than the average for all occupations through 2033 — adding approximately 963,500 new jobs each year, BLS reported.*

Data from BLS also shows that, as educational attainment increases, unemployment rates decrease while overall earnings increase.* Those with graduate degrees had the highest earnings and lowest employment rate, according to BLS.*

Business degree salaries are often attractive, in comparison to the median wage for all occupations, according to BLS.* The median wage in business and finance fields was $79,050 in 2023, BLS reported.*

Zeroing in on the top business degrees in demand will help you fill the skill gaps employers seek as their companies and business needs evolve and make you a more marketable prospect among your peers.

What is the Best Major in Business Administration?

Business administration, in general, is about learning how to manage a business's operations, people and resources to achieve success, said Dr. Jolivette Wallace, an associate dean of marketing at Southern New Hampshire University (SNHU).

Wallace, an entrepreneur, leader in education and digital marketing professional, said, "(The topic) covers key areas like management, marketing, finance and strategy, equipping students with practical skills to lead organizations and drive growth in an industry."

Part of the appeal of a business degree is its combination of practical focus and academic challenge, along with the diversity of opportunities upon graduation. So, how do you choose a major?

An online bachelor's in business administration program is one to consider. This broad business program focuses on developing leadership and managerial skills while also building a foundation in accounting, marketing and business law.

There are many careers you can get with a business degree. Within a bachelor's in business administration program, you can choose from 16 concentrations if you'd like to focus on a particular area of business in your studies.

"The versatility of business allows the option to (align) both (your) skillsets and interests," said Wallace. "Whether its sports, non-profit or health-related, business administration students have the option to pursue almost any sector."

So, the best business administration major depends entirely on your interests and career goals. A few options include:

• Business psychology degree
• Entrepreneurship degree
• International business degree
• Organizational leadership degree
• Public administration degree

As a graduate, you should feel prepared to interpret trends, apply ethics to your decision-making and manage change, among other skills employers seek and value. At SNHU, for example, classes can prepare you for a wide range of career roles and industries with focus on skills around management strategies, global business contexts, team collaboration and data-driven strategies.

Pedro Borges '24 graduated from SNHU with a Bachelor of Science (BS) in Business Administration. He traveled to the U.S. from Cabo Verde, West Africa, at the age of 18 to achieve his dream of having a better life and getting a degree.

"SNHU was a perfect fit for me because I could do my courses online and also work full-time," Borges said.

While working as a digital coach for Walmart, and with the help of tuition benefits, Borges started his degree. By the time he graduated, he said he felt more confident in his abilities to challenge himself and progress toward a managerial position in his career.

"(The tuition benefits) motivated me more because I said, 'I cannot lose this opportunity. I have to take advantage of it and work hard to get my degree with this program,'" Borges said.

Which Business Degree is Most In-Demand?

The top 5 in-demand skills employer's are looking for are communication, customer service, leadership, project management and management, according to LinkedIn.

If the skills you're interested in attaining are in a particular aspect of business, you may opt for a degree program that centers on that instead of choosing a business administration concentration. For example, if you work in marketing or hope to break into that field, you could earn a bachelor's degree in marketing instead of a bachelor's in business administration with a concentration in marketing.

You can choose the option that best reflects your career goals in other areas such as:

• Finance degree
• Healthcare administration degree
• Operations management degree
• Sports management degree

With degree options that range from broad-based business to field-specific focuses, you can grow in-demand skills and experiences that translate to careers across various industries. Take the two degrees of project management and accounting, for instance:

Bachelor's in Project Management

If you’ve got a head for logistics and process control, you may decide to focus your business administration degree on project management. At SNHU, for example, this degree will provide the fundamentals of management with a deep dive into the planning, implementation and assessment of projects while considering resources and effective decision-making.

Through SNHU's program coursework and relevant experiences, you can gain a strong understanding of project management methodologies and skills that address organizational and stakeholder requirements.

This program may also present the opportunity to learn the Six Sigma management methodology, a data-driven approach to eliminating defects and process improvement that is widely heralded for its usefulness in any application.

If you are changing your career to become a project manager, the option to take part in an operations/project management internship provides the chance to apply the techniques you have studied while earning credits toward graduation. Your course of study can also help prepare you for the Project Management Institute's Certified Associate in Project Management (CAPM^®) certification exam.

Jenny McCracken '24 earned her BS in Business Administration with a concentration in Project Management while an active-duty service member of the Massachusetts National Guard. She said that the SNHU staff was accommodating to her needs as a student and a service member.

"With my degree, I hope to go further into my career as a manager," McCracken said. "I want to be a general manager and run my own business to make money and help people around me."

Bachelor's in Accounting

Another type of business degree to consider while on your career path is a bachelor's in accounting. The analytical skills, critical thinking and problem-solving capabilities you develop in an accounting course of study can be used in any industry and are highly sought by hiring managers. Moreover, as the economy grows, so does the demand for skilled workers in accounting, specifically with the competencies to arrange and interpret financial records, according to BLS.

BLS predicts that the employment of accountants and auditors will grow 6% through 2033, and, in 2023, they earned a median salary of $79,880.*

If you already know you want to become an accountant or are hoping to advance in your current organization, an online program offering an accelerated degree program provides a quicker path to receiving both your bachelor’s and master’s degrees.

You can choose to specialize further, too. A bachelor's in forensic accounting, for example, allows you to focus on developing the skills necessary to identify and investigate fraud, introducing you to common schemes and scams and providing a foundation of the legal aspects of fraud investigation.

An accounting degree can also unlock career opportunities besides accounting if you're interested in using money management and financial planning skills.

The Bottom Line: Which Business Major is Best for the Future?

When considering what business major is best for a future career, BLS projects five roles to be the fastest growing in business and financial occupations.* They include:

1. Financial Examiners: BLS stated that you typically need a bachelor's degree in business or a related field, with coursework in accounting or finance.
   
   
2. Logisticians: BLS noted that a bachelor's degree is often necessary for this career path, although some employers may accept lesser education. Degree programs to consider are in logistics, supply chain management, business or related areas. Logisticians should complete coursework in accounting, procurement, economic and other business concepts, according to BLS.
   
   
3. Management Analysts: A bachelor's degree is a general requirement for entry-level positions in this field, specifically in business, social science, engineering or related field, according to BLS.
   
   
4. Market Research Analyst: Consider majoring in business, communication or a social science. Additionally, coursework generally includes statistics, research and marketing, while classes in social sciences can also be helpful, according to BLS.
   
   
5. Personal Financial Advisors: BLS reports that this career path typically requires a Bachelor of Science in Finance, although employers don't require a specific course of study. Other common degrees to obtain for this job include business, social science and mathematics. Coursework tends to be focused on taxes, investment, estate planning and risk management, according to BLS.

All of these career paths have a projected job outlook that is faster than average through 2033, according to BLS.* This provides a steady rate of demand for these jobs in the business and financial fields.*

And, if you're already a member of the workforce or have other obligations filling your schedule, you can take advantage of online degrees and the flexibility they provide for busy learners.

When pursuing an online degree, you can still enjoy interactions and connections with fellow students. There are many opportunities to learn from each other and leverage those real-world experiences your classmates bring to the table. You may be online and sitting at your kitchen table, but you’re still part of a community.

Earning one of the top business degrees in demand is a significant first step toward reaching your goals. If your college or university has a career development team, you can take a step further by working on resume writing and mock interviews as well as learning how to translate your newly developed tangible skills into language that hiring managers prize.

In addition to the jobs you can get with a bachelor's degree, there are many options to earn your master's degree once you've completed your undergraduate program. For example, you might consider pursuing an MBA and choose from more than 15+ concentrations to give your career an extra boost.

Your education doesn’t have to stop there, either. You may decide to pursue a terminal degree in a business-focused area, such as a Doctor of Philosophy (PhD) in International Business. Your path depends on your career goals and whether you wish to explore, examine and address business problems or move into academic or research roles.

*Cited job growth projections may not reflect local and/or short-term economic or job conditions and do not guarantee actual job growth. Actual salaries and/or earning potential may be the result of a combination of factors including, but not limited to: years of experience, industry of employment, geographic location, and worker skill.

Nicholas Patterson ’22 is a writer and alumnus of Southern New Hampshire University (SNHU), where he earned his bachelor’s degree in English and creative writing. He is currently honing his craft further as he pursues an MFA in Creative Writing from SNHU. Connect with him on LinkedIn.